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Covenants represent: Terms and conditions set forth in a lending agreement to reduce the probability of nonpayment Promises the company makes to the creditor The

Covenants represent:

Terms and conditions set forth in a lending agreement to reduce the probability of nonpayment

Promises the company makes to the creditor

The property that a company pledges to guarantee repayment

The maximum that a creditor will allow a customer to owe at any point in time

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